Martin Lee @ Sg
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Forex Trading Seminars

Many people have asked whether it is possible to make money by trading forex.

Every day, you can see advertisements promoting forex trading (or other instruments) seminars with the promise of making a full-time income using the techniques they teach.

I have not paid money to attend any of these seminars so I am unable to tell you for sure whether the methods taught at these seminars actually work. Personally, I don’t believe that attending a two or three-day event will make anyone a consistently profitable trader. It takes much more than that.

What I can tell you for sure is when the claims on the advertisements are untrue to the point of being ridiculous.

Here’s one:

Generate 20-40% returns monthly.

Let’s work out an example. If you start with just $1000, the numbers below show the money you have at the end of every year if you can achieve a 20% return every month.

1 year $8,916.10
2 years $79,496.85
3 years $708,801.87
4 years $6,319,748.72
5 years $56,347,514.35
6 years $502,400,097.98
7 years $4,479,449,738.82
8 years $39,939,223,824.27
9 years $356,102,131,442.61
10 years $3,175,042,373,780.32

At the end of 5 years, you will have $56 million dollars.

At the end of 8 years, you will have $39 billion dollars.

At the end of 10 years, you will have $3.1 trillion dollars.

At the end of 20 years, you will have $10,080,894,075,300,600,000,000. There is an outside chance this could be an amount greater than all the money in the world put together.

If anyone makes these kinds of claims to you, be wary – very wary.

Hopefully, MAS will one day start regulating such kinds of advertisements.

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Leave a Comment:

jimmy says 11 years ago

If the trainer can make this sort of money, why bother to teach in the evening. Would not it be very tiring. The money is not easy when compared to forex trading.

Why would anyone share such secret. It really generous should just give for free.

Moral of story. Make money not from forex trading but provide “training” on forex trading

gembul says 14 years ago

Good article, looking forward to reading more from you in the future. thank you

Matt says 15 years ago

Yea man. Total nonsense. Got cheated by one such “academy”
before. These guys are located somewhere in outram.
One of the selling points they like to use is that they were featured in the media not realizing that that does not amount to much nor does it stand for anything.
Mas selamat, Bear Sterns, Enron etc were all in the media too.

I put down my deposit aft being promised that I can get it
back if I changed my mind. Or I could simply ask anyone else in the room to take my place and still get a full refund.
Well, fat chance. The next time I went back to do just that, I was
promptly urshered out of the room and with two of the guys
trying to get me to change my mind, telling me how much
they are making and how much I could make if I joined them blahblahblah… When they realized I was adamant, their words turned hostile.

I realized how most of these participants made money after I gave the deposit.
It was not by trading but rather by referring others to the course. They have a rather good referral scheme in place (sorta like the MLM ones).
The guys there are seasoned actors. I went for their preview at
least 3 times. They do the same thing over and over again.
The script was very well written with some elements of truth in it. At one of the presentations, one of the speakers got so emotional he nearly shed tears.
At every presentation, there will be at least one member of the
audience that will be so “touched” by the sincerity of the speakers that he will jump up before the end of the whole thing and gone to the back to “sign up”.

Well, the point is we just musn’t fall prey to these people. Especially those that promise a refund after 6months or any other duration. If they can’t even honour their words aft a month, whats more after 6 months. Furthermore, the criteria they put in place for you to get your refund is so impractical to attain they might as well not offer a refund in the first place.

lioninvestor says 15 years ago

Hi Lyn,

You are welcome.

Lyn says 15 years ago

wow, i hve never seen the calc in this manner.
thanks for the insight of how a minute 1000 can compound to such hugh numbers

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